A pretty rough day on Wednesday,
although the GMI is still at 6. Only 12-23% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced. But there were still 204 new highs in my universe of 4,000 stocks. The GMI-S fell to 50, signifying that only one half of the short term indicators for four indexes remain positive. I sold my weakest holding on Wednesday and will lighten up if this market continues to weaken. It is not unusual to see weakness at the beginning of the month after most earnings have come out. I will try to hold on for an expected end of year rally, but I will not fight the GMI…..
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GMI: 6; Riding QLD
The GMI is still 6. Only 42% of the Nasdaq 100 stocks advanced on Tuesday, along with 45% of the S&P 500 stocks and 37% of the Dow 30 stocks. Still, there were 231 new highs and only 20 new lows in my universe of 4,000 stocks. 
Only 64% of the Nasdaq 100 stocks closed above their 30 day average, down from 88% on 10/16. Only 40% of the IBD 100 stocks from 10/16 advanced on Tuesday and only 9 hit a new high–COGO,CELG,BLKB,AXR, JLL, HRT, BLUD, NVEC,
IAAC. Tuesday was the 52nd day of the current QQQQ up-trend. During that time the QQQQ has risen 10.4% but the ETF that approximates twice its movement advanced 19.8%. Once the up-trend was established, it became very comfortable for me to just ride the QLD.
GMI: 6; GMI-S back to 100
The GMI is still 6, as 68% of the Nasdaq 100 stocks rose on Monday, along with 60% of the S&P 500 stocks and 50% of the Dow 30 stocks. Only 153 stocks in my universe of 4,000 stocks hit a new high. 
Monday was the 51st day of the current QQQQ up-trend and the GMI-S is back to 100.